Home

MLS settles antitrust lawsuit over naming rule Premium Content

By Glenn Roberts Jr., Tuesday, April 17, 2007.

A group of real estate professionals and companies have settled an antitrust lawsuit filed last year against the Regional Multiple Listing Service of Minnesota over restrictions on the use of "MLS" and related terms in company names, Web addresses and marketing.

MLS officials have said that the rule change was intended to preserve the integrity of the MLS while preve  more...

Inland grows by 3.8 million square feet

By Inman News, Tuesday, April 17, 2007.

Inland American Real Estate Trust Inc. recently purchased 3.8 million square feet of retail and industrial space in two portfolios in several Sun Belt states.

The total value of the portfolios -- both sold by ProLogis -- was not disclosed.

The 1.5 million-square foot Six Pines portfolio, purchased for approximately $256.6 million, includes 13 Tom Thumb-anchored shopping centers located in demographically strong areas of Texas surrounding Dallas and Austin, as well as eight Kroger and Publix-anchored centers in the Southeast.  more...

Phoenix Logistics adds space in New Jersey

By Inman News, Tuesday, April 17, 2007.

Phoenix Logistics signed a 204,000-square-foot lease for industrial space in Jersey City, N.J., for an undisclosed price.

The space, located at 207 Port Jersey Blvd., is owned by RREEF. Amenities include high ceilings, loading docks, office space and a sprinkler system.

Phoenix Logistics, which plans to use the space for warehouse and distribution purposes, chose the property for its "close proximity to the ports and its other existing locations," according to a press statement.

Arizona apartment deal tops $13M

By Inman News, Tuesday, April 17, 2007.

Summerhill Place, an apartment community in Glendale, Ariz., has sold for approximately $13.2 million.

Brooklyn, N.Y.-based Rebecca Realty sold the property to Encinitas, Calif.-based Southwest Equity Partners.

Located at 6801 West Ocotillo Road, the 232-unit, garden-style apartment complex is located minutes away from the newly constructed stadium for the Arizona Cardinals and the Glendale Arena.

The buyer plans to make "significant interior upgrades to the asset," according to a press statement.

Foreclosure filings rise in March, RealtyTrac reports Premium Content

By Inman News, Tuesday, April 17, 2007.

Foreclosure filings in March jumped 47 percent compared to the same month last year, to a rate of one foreclosure filing for every 775 U.S.  more...

Rates up, home loan apps fall

By Inman News, Tuesday, April 17, 2007.

Real estate loan applications fell last week, led by a drop-off in home purchases, the Mortgage Bankers Association reported today in its weekly survey.

The market composite index, a measure of mortgage application volume, sank 2.5 percent, falling to 630.6 on a seasonally adjusted basis from 646.6 one week earlier.

The index that tracks home purchases fell 4.2 percent from the beginning of April, according to MBA, while the refinance index dipped 0.3 percent -- its fifth consecutive weekly decrease.

Because of the considerable drop in purchase loans, the refinance shar  more...

Slight change in overnight real estate rates

By Inman News, Tuesday, April 17, 2007.

Long-term mortgage interest rates were mostly flat Tuesday, and the benchmark 10-year Treasury bond yield dropped to 4.68 percent.

The 30-year fixed-rate average fell to 5.8 percent, and the 15-year fixed rate held at 5.55 percent. The 1-year adjustable dipped to 5.38 percent.

The 30-year Treasury bond yield sank to 4.84 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Get the inside track on hot real estate marketing

By Inman News, Tuesday, April 17, 2007.

The downturn in many real estate markets has forced real estate brokers and agents to recharge their marketing techniques.

Some agents are thinking outside the box, using blogs, social networks and intricate online marketing plans to get noticed.

In an age of stiff competition, successful real estate professionals are finding fresh and innovative ways to acquire new clients. What are their secrets?

We want to hear from you.  more...

Real estate a la carte: it's what consumers want

By Tom Kelly, Tuesday, April 17, 2007.

The comment simply added an international flavor to what has become an ongoing wrestling match about real estate commissions.  more...

Best deck material: Douglas fir or redwood?

By Bill and Kevin Burnett, Tuesday, April 17, 2007.

Q: I'm building a small deck in the backyard and for cosmetic reasons am painting it rather than finishing the wood. So, being cost-conscious, I am wondering whether using a Douglas fir 2-by-6 versus a con-heart redwood makes sense. The lumber cost is less than half.

A friend said that the redwood really ought to cure 90 days and then be washed with oxalic acid to leach out the tannins so the paint doesn't peel and crack.  more...

Trade apartments for dream home, avoid taxes

By Robert Bruss, Tuesday, April 17, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 12, 2006.

DEAR BOB: I know you answered a similar question several months ago, but I don't recall the answer. I own a six-unit apartment building, in which my wife and I have a large profit. If we make an outright sale, we will owe a huge capital gain tax.  more...

Insurer won't defend landlord after fatal accident

By Robert Bruss, Tuesday, April 17, 2007.

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 12, 2006.

James McGowan owned a four-unit apartment building where Lori Dutton and her 4-year-old daughter, Amy, lived in one of the apartments.

McGowan sold the building to Mohammed Hakeem in May 2001. Dutton and her daughter continued to occupy the apartment.  more...

Apr

17
2007

Project Blogger Week 1 Summary: The Coaches Corner

By Joel Burslem, Tuesday, April 17, 2007.
The first week of Active Rain's and Inman News' Project Blogger competition is over and each of the Coaches have been hard at work getting their Apprentices up and blogging. Here's a summary of all the week's action: Teresa Boardman...  more...

Blue Shield fends off injunction in Realtor health care case

By Glenn Roberts, Jr., Tuesday, April 17, 2007.
The California Association of Realtors this week announced that a Los Angeles Superior Court judge has denied a preliminary injunction that sought to prevent Blue Shield of California from canceling medical insurance coverage for about 8,000 association members and their...  more...

Wachovia 5, Watters 3

By Glenn Roberts, Jr., Tuesday, April 17, 2007.
The Supreme Court today ruled on a case related to state power over the mortgage lending subsidiaries of federally chartered banks. The bank won. Michigan regulators contended that the bank's subsidiary could not operate in the state without registering in...  more...